ISLAMABAD: A committee of experts has recommended to the Securities and Exchange Commission of Pakistan (SECP) to improve transparency and efficiency in the manner of conducting shareholder meetings, election of directors, proxies, voting process and monitoring mechanism.

The committee was constituted by the SECP for a comprehensive review of the manner of conduct of shareholder meetings by listed companies and suggested reforms.

The committee in its report has made several recommendations to address the issues faced by minority shareholders and ensure effective participation and value addition by institutional investors.

The SECP has asked all stakeholders particularly the listed companies to share their insights on the committee report before March 30.

The report is placed on the SECP’s website for public consultation.

The report has highlighted that the quality of shareholder meetings reflects the company’s commitment to attaining higher standards of corporate governance.

By prioritising transparency, engagement, and adherence to legal and regulatory requirements, companies can enhance the effectiveness of their shareholder meetings and build trust among them.

Published in Dawn, March 2nd, 2024